DFM profit plunges to $21.2m by September-end

08 Nov 2010

(MENAFN) Managing Director and Chief Executive Officer of the Dubai Financial Market (DFM) Company, Essa Kazim, stated that the firm has generated a net income of $21.2 million during the January-September period of 2010, compared to $70.3 million in the corresponding period in 2009, Khaleej Times reported.

As for the July-September period, DFM posted a loss of $803.8 thousand, and recorded the net loss due to the inclusion of Nasdaq Dubai’s financial results, said Kazim.

Company officials say that despite the 54 percent fall in DFM’s trading value during the January-September period of 2010 compared to the same period in 2009 which overshadowed the company’s revenue and profit, DFM believes that this as a passing circumstance that it does not symbolize its market, explained DFM Chairman Abduljalil Yousuf Darwish.

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